Dishonour of Cheque - vicarious liability - It is settled that ...

Company Directors Liable for Cheque Dishonor: NI Act Sections 138, 139, 141 Allow Proceedings Despite IBC Section 14.

October 3, 2023

Case Laws Indian Laws HC

Dishonour of Cheque - vicarious liability - It is settled that directors are vicariously liable for the acts committed on behalf of the company. In view of Sections 138, 139 and 141 of the NI Act, it is also clear position of law that under provisions of Section 14 of IBC, the proceedings cannot continue against corporate debtor but can be initiated or continued against natural persons including persons mentioned u/s 141(1) and 141(2) of the NI Act. - whether the cheques were issued as security or towards legally enforceable debt, are all matter of trial and this Court cannot conduct mini trial - HC

View Source

← Previous Next →

Dishonour of Cheque - vicarious liability - It is settled that ...

Company Directors Liable for Cheque Dishonor: NI Act Sections 138, 139, 141 Allow Proceedings Despite IBC Section 14.

October 3, 2023

Case Laws Indian Laws HC

You may also like:

SC determined that a director who is not a signatory to a dishonored cheque cannot be held liable under Section 138 of the 1881 Act unless Section 141 requirements are...

Interpretation of Section 141 of the Negotiable Instruments Act, which deals with vicarious liability for offenses committed by companies u/s 138 (dishonor of cheques)....

Dishonour of cheque - vicarious liability in criminal law - The SC interpreted Section 7 of the NI Act to identify the "drawer" as the individual issuing the cheque,...

HC ruled that a Managing Director cannot be held vicariously liable under Section 138 of Negotiable Instruments Act for a dishonored cheque that was not drawn by their...

Dishonour of Cheque - vicarious liability of Managing Director - The liability of persons referred to in Section 141 of the N.I Act is coextensive with that of the...

SC held that non-executive directors cannot be held vicariously liable under Sections 138 and 141 of NI Act for dishonored cheques without specific evidence of their...

The petition challenged the criminal complaint filed against the petitioner u/s 138 read with Section 141 of the Negotiable Instruments Act for dishonor of cheque. The...

Dishonour of Cheque - mentioning the petitioners in CRR 196 of 2016 as ‘non-directors’ and in CRR 197 of 2016 as ‘directors’ - High Court held that, at the relevant...

Liability of one of an independent Director of a Company under Section 141 of N.I. Act for the dishonour of the cheque issued by the original accused on behalf of the...

Dishonor of Cheque - CIRP - dissolution of company as per resolution plan - where the proceedings under Section 138 of the NI Act had already commenced with the...

Dishonor of Cheque - vicarious liability of director of a company u/s 141 of NI Act - prosecution u/s 138 of NI Act without the company being arraigned as an accused -...

Dishonor of Cheque - insufficient funds - privity of contract - where the person committing an offence under Section 138 of the N.I.Act is a company, every person, who,...

Dishonor of Cheque - vicarious liability of Directors, who are not signatories to the cheques - the allegations in the complaint are that at the time at which the...

HC affirmed vicarious liability of company directors under Sections 138/141 of NI Act in cheque dishonor case. Directors challenged summoning orders claiming...

Dishonour of Cheque - Liability of a Director - principles of vicarious liability - petitioner had already resigned on 15.03.2014 as Director of the Company and was...

Quick Updates: